Is this good? CC settlement

I’ve been lurking here for months reading every little thing…trying to figure out how in the world I am going to get back on track…

Today I got a payment plan set up with my Chase acct. It SOUNDS good…I hope I’m not missing something here. I’m pretty paranoid about dealing with CC companies!

My balance is 15,600. I am a month behind now and they want around $2000 payment. There is no way.

I got a payment plan of $262 a month with 0% interest for 5 yrs. All late fees and over the limit fees will stop too. If I get 2 months behind I will loose the program, so I will have to be diligent about my payments. Even that amount will be tough now, but I felt like it was my *light at the end of the tunnel* We will be eating lots of mac and cheese for awhile ;o)

Is there anything I’m missing? I hope not. They are sending it to me in writing.

One question…is there any way that they can take my tax refund? I wouldn’t think so, but I hope not as we owe family members and I promised to pay them back out of that. But next years refund will go ALL to this CC to get it GONE!

I’m feeling so much relief right now…that is until I have to start making the payment ;o)

They can’t take your tax refund so don’t worry about it! Make sure you get this in writing and read the document so you will know what is expected….

Thanks so much! They are *supposed* to be sending me a written agreement. I have 10 days to make the first payment, and that is my acceptance. I will wait to see what I get in writing first. I was told many things on the phone, but you know how that goes….I’m trying to think of what to do, and keep remembering they are not here to really help me…just get their money.

I’m hoping for the best though.